ADM 1100 Lecture Notes - Lecture 10: Absenteeism, Job Security, Theory Z
12 May 2016
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Document Summary
Human resource management: the function of attracting, developing and retaining employees who can perform the activities needed to meet organizational objectives. 3 main objectives: providing qualified, well-trained employees for the organization, maximizing employee effectiveness in the organization, satisfying individual employee needs through monetary compensation, benefits, opportunities to advance, and job satisfaction. Performance appraisals: evaluation of and feedback on an employee"s job performance. Take place in the form of a two-way conversation. Some firms conduct peer review (assess performance of co-workers) May conduct a 360-degree performance review, a process that gathers feedback from a review panel that includes co-workers, supervisors, team members, subordinates and sometimes customers. Compensation: the amount employees are paid in money and benefits. Wage: pay based on an hourly rate of the amount of work accomplished. Salary: pay calculated on a periodic basis, such as weekly or monthly. Most firms base compensation decisions on 5 factors:
